Help the Women in Your Life Manage Risk

The women in our lives hold a special place in our hearts. This Women’s month (March), we plan to take extra steps to remind them of this, and encourage you to do so, too. It’s also a good time to reflect on what causes disability for the women we love, and ways we can help them manage that risk for themselves and the people they care for.

Disability Income Insurance

In 40% of households, a woman is the primary breadwinner. More and more women are making money for themselves and their families. And 35% of stay-at-home dads say they aren’t working due to an illness or injury. Working women, whether or not they have children and/or stay-at-home husbands, need to protect their incomes. Plus, all over the country, women-owned businesses are continuing to grow “at a faster rate than any other demographic,” so business-oriented disability insurance products are gaining a wider audience.

Critical Illness Insurance

Breast cancer is the most common type of cancer found in women in the U.S., and while deaths have been decreasing in the last 70 years, diagnoses have been increasing. This means more and more women are left with expensive cancer treatment and lifestyle changes as they beat their disease. Similarly, while heart disease is the leading cause of death in women, that mortality rate has decreased in the past 60 years. A critical illness insurance check can save these women from losing their homes or other essential expenses while they recover.

Long-Term Care Insurance

The American Association for Long-Term Care Insurance says it best: “long-term care is truly a women’s issue.” Research shows that women 1) live longer than men and 2) have higher rates of disability and chronic health problems. Despite this obvious recipe for elderly women in need of long-term care services and support after a spouse dies, a long-term care insurance policy can relieve much of the caregiving experience female spouses historically undertake. Because of this data, of course, LTCi premiums are higher for women due to a higher risk. But keep in mind: long-term care insurance can be tax-deductible and offered at a significantly discounted rate if applied for with a spouse.

Just like any other women’s product, when it comes to planning for a health event, there’s no one-size-fits-all. We address the needs of each individual client and propose a solution that’s best for her.